The city of New Orleans may soon have tighter laws on people renting homes they own to tourists.
"City Council Motion (M-19-4) would tighten regulations for the City's Short Term Rental (STR) program and incentivize commercial developers to provide more affordable housing for New Orleanians," according to a news release from Councilwoman Kristin Gisleson Palmer.
The Monday announcement said that the council would move forward with a vote this coming Thursday.
Three other councilmemebers; Joe Giarrusso, Jay H. Banks and Helena Moreno are also sponsoring the motion.
The new law would ban most rentals of entire houses, and only allow limited rentals of portions of owner occupied houses.
"The proposed legislation would allow property owners with a homestead exemption to receive up to three STR permits per property called a residential license. Whole home rentals would no longer be allowed unless located within a commercially zoned district."
The release explains that under the proposal the short term rental ban in the French Quarter would remain in place, but it would be extended to the Garden District.
"Additionally, the motion would establish different categories of commercial licenses based on the number of units and instruct the City Planning Commission (CPC) to make recommendations on affordable housing using the inclusionary zoning study."
Supporters say the laws would help keep residential neighborhoods in tact with their traditional community feel. Opponents say the measure is an unfair intrusion into the free market and leaves many owners with no way to make money off of their investments.